UK Tax News from TaxPenny

The Chancellor, George Osborne, will be announcing the Con-Lib Coalitions first budget since the election at 12:30 PM today.

A lot of speculation hints at an increase in the income tax personal allowance by £1000 to £7,475 – other tax changes are centered around Capital Gains and VAT. Remaining changes will be to expenditure on welfare, health etc.

Our tax calculator will be updated as soon as announcements have been made to reflect the changes  - visit the emergency budget 2010 calculator.